Reserve Bank Governor Urjit Patel will brief the Parliamentary Committee on Finance about the demonetisation process and its impact on Thursday. Since banning of old 500 and 1000 rupee notes on the 8th of last month, the Government has taken a host of measures like Service Tax sops and incentives for promote digital payment and ease the problems arising out of less currency being available in the market. RBI last week said that 12.44 lakh crore rupees in demonetised notes have been collected at banks. Also, banks have issued 4.61 lakh crore rupees to the public since November 8-9 through ATMs and bank counters.
